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CBS
Nov 30, 2012 4:00am PST
pennsylvania. he'll tell americans the fiscal cliff will cause holiday shopping to plummet. >> let's give a christmas present to the american people. >> reporter: but the mood here on capitol hill is anything but festive. both sides say the tax hikes and spending cuts due to kick in at year end are unacceptable, they just don't believe each other. >> members of his own party seem quite comfortable of sending the economy over the fiscal cliff. >> reporter: the president sent timothy geithner to the hill with had $4 trillion plan. it includes 1.6 trillion in new taxes on upper income americans. 400 billion in cuts to medicare and other entitlement programs. and $50 billion in new spending on infrastructure and unemployment benefits. the biggest stumbling block remain. the new taxes on the wealthiest americans. while some republicans here in congress are hinting they might be open to the idea the majority seemed opposed. >> raising rates on the so-called rich is the holy grail of liberalism. their aim isn't job creation, they are interested in wealth distribution. >> reporter: the white house insists the president won't sign any bill
FOX News
Nov 30, 2012 10:00am PST
right mind would be so irresponsible as to threat on take the american people off this fiscal cliff. plunge us back into recession and put a lot of people out of work. so this is very disappointing. and i wish we weren't where we are, but it takes two parties to negotiate in good faith and frankly the president has been awol. megyn: do you believe the president want to go off the fiscal cliff? >> by judging from his behavior, i'm beginning to believe he does. and that i think would be a profoundy irresponsible act. economists of all stripes have told us we'll be plunged into a recession. we don't know in light of this fragile economy whether it would be a small dip or whether it would spiral out of control. so it's just something we should not be toying with. that's why it's so discouraging to see the president and secretary geithner increase their demand and not come closer together given the fact our side has put revenue on the table, something we don't want to do. we know we don't have just a taxing problem, we have a spending problem and we see no commensurate action from the pr
CNBC
Nov 30, 2012 4:00am EST
of words over the fiscal cliff intensifies as obama prepares to take his case to the american people. the eurozone was living in a, quote, fairy world. draghi tells governments they cannot rely only on ecb help and chastises them for past mistakes. and schaeuble warns a default could spell the end of the euro. >>> president obama travels to a suburb of philadelphia today to tour a local toy company. he'll speak at noon eastern time and will continue to press republicans to let tax cuts expire for people making more than $250,000 a year. reports suggest the president's opening bid and budget talks calls for a $1.6 trillion tax hike, $50 billion in new in-practice straukt spending, and unfettered power to raise the u.s. debt ceiling. that was laid out to lawmakers yesterday by tim geithner and led to sharp comments there both sides of the aisle. >> now is the time for the republicans to move past this happy talk about revenues, ill defined, of course, and put specifics on the table. the president has made his proposal. we need a proposal from them. >> what we don't know is what the whi
CNBC
Nov 30, 2012 1:00pm EST
interrupting. you talk about the greek fiscal cliff. we have our own and people here say we could be the next greece. how does that make you feel when you hear that kind of talk from american politicians, american business people, american citizens? >> extremely worrisome because you represent 25% of the global economy whereas greece, which wasn't the cause of the european crisis, only represents 2% of the european gdp. so if you guys were to actually have such deep problems, then it would mean problems for everyone globally and no one would want that. i'm sure that you'll be able to find the right solution by the end of december. >> let us hope. mr. michalos, thank you very much. sue? >>> thank you, ty. two big winners in that $587 million record powerball lottery. but how much do you really need to earn to make you happy? the answer may surprise you. >>> and before you fill up your tank with gas, listen up. aaa is warning regulators to stop sales of a certain type of fuel at the pump because it could damage your car and void your car warrantee. details on that when "power" resumes in two minutes. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're
MSNBC
Nov 30, 2012 8:00am PST
the president's in this respect. rough the biggest aspects of the fiscal cliff is the fact that tax rates are going to go up on all americans. the senate has passed a bill that would give the middle class 98% of the people their tax cut. it is done. it's in a package. it's sitting at our desk. and all that has to happen is for the house to take it up. the only reason they're not taking it up is they want millionaires and billionaires to get their taxes cut, too. and this was a big issue in the campaign, thomas. so why don't we, instead of throwing insults, why don't they just pick up and pass that part as their own republican, tom cole suggested, let's have some good faith here, and we'll hammer out the rest of it. >> so senator, one thing you say about show me the money, if we talk about the lack of structural changes that are out there for entitlements, nbc's first read makes that point about that saying that the white house is sending the message that if republicans want entitlement reform, they're the ones who have to propose it. so is the white house forcing republicans basically to do the dirty work on social safety net pr
Current
Nov 30, 2012 3:00pm PST
cliff case directly to the american people. believe me, he was speaking right at you john boehner. it's friday, it's "the war room," and we're just getting started. stick around. mints called mints? answer in a moment. brought to you by ice breakers mints. break the ice. [ male announcer ] red lobster's crabfest ends soon. hurry in and try five succulent entrees like our tender snow crab paired with savory garlic shrimp. just $12.99. come into red lobster and sea food differently. and introducing 7 lunch choices for just $7.99. salads, sandwiches, and more. but whether he's climbing everest, scuba diving the great barrier reef with sharks or jumping into the market he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things like what the market is doing and being ready, no matter what happens which isn't rocket science. it's just common sense from td ameritrade. >> obama: i've been keeping my own naughty and nice list for washington. so you should keep your eye on who gets some correct t
CBS
Nov 29, 2012 5:00pm PST
serious offer from republicans. >> the american people want us to avoid the "fiscal cliff" with a balanced approach. >> reporter: geithner is here in the halls of congress trying to clear some big hurdles with republicans. once a deal is closer president obama will take over the talks. so far independent senator joe lieberman is not encouraged. >> if we go over the cliff it's going to send the country back into recession. >> reporter: vice president joe biden stopped by a washington, d.c. costco thursday to help the white house's public campaign for a deal. >> consumer confidence is growing. the last thing we need to do is dash that now by being unable to extend middle class tax cuts. >> reporter: the vice president said if those tax cuts aren't extended, the average american family stands to lose $2,200 next year. danielle nottingham, cbs news, washington. >>> talk about a power lunch. president obama and mitt romney met privately at the white house to have lunch. their first face-to-face meeting since the campaign debate. aides say the president wanted to discuss romney's ideas
CSPAN
Nov 29, 2012 8:00pm EST
serious discussion so far. there is a real danger of going off the fiscal cliff. going off the fiscal cliff will hurt our economy. it will cost american jobs. republicans have taken action to avert the fiscal cliff by passing legislation to stop all the tax hikes, to replace the sequester, and pave the way for tax reform and entitlement reform. we are the only ones with a balanced plan to protect the economy, protect american jobs, and protect the middle class from the fiscal cliff. without spending cuts and entitlement reform, it will be impossible to address our country's debt crisis and get our economy going again and to create jobs. right now all eyes are on the white house. the country does not need a victory lap. it needs leadership. it is time for the president and congressional democrats to tell the american people what spending cuts they're willing to make. with that, i will take a few questions. [indiscernible] >> it has been very clear over the last year and a half. i have talked to the president about many of them. you can look at our budgets where we outlined specific proposals that we passed last year and the year before. we
PBS
Nov 29, 2012 5:00pm PST
fiscal cliff. they are getting a boost from numbers that show they had a busy number. >> lots of numbers for you this morning. let's start with u.s. gdp. it's been revised upwards. commerce department officials say the economy for the july to september quarter dp eer grew a annualized 2.7%. exports were revised to mark an increase of 1.1%. earlier predictions headed for fall of 1.6%. housing investment was revised slightly down toward to 14.2% but maintain strong growth. >>> consu consumer spending was revised down 0.6 points to a growth rate of 1.4%. overall gdp mark significant growth but uncertainty remains. consumption is growing. there is the fiscal cliff to consider. >>> now let's turn to japan. the jobless rate in october remained flat compared to the previous month. the internal affairs ministry said unemployment stayed at 4 4.2%. officials at the labor ministry say the ratio of job vacancies to seekers declined. it says 80 positions were open for every 100 job seekers. the industrial output posted an increase in october for the first time in four months. the index stood
FOX News
Nov 30, 2012 2:00am PST
of weeks. but going over the fiscal cliff is , i am trying to resolve it. >> democrats want republicans to slow down and realize what they are offering is not new. it's the sail debt pl-- same de plan president obama had in the american jobs act. it's not a new stimulus it is something that has been on the table for over a year. >> something should a political price be paid in order for congress to do its job to make sure the united states of america pays its bills and does not default for the first time in history is deeply irresponsible. it was deeply irresponsible in the summer of 2011 and would be deeply irresponsible if we were to see that kind of approach taken again. >> oo there were whispers there was a deal coming together. the white house says they are ready to compromise but republicans need to ask the wealthiest americans to pay higher tax rates. >> the fiscal cliff deal, charles krauthammer is talking about it. he calls it quote insulting. >> it's not just a bad deal. what geithner offers on the street robert e. lee was offered easier terms and he lost the civil war. democrats won by 3 percent of the voeft and they did not hold the house. republicans won the house. this is not the condition of surrender but t
CNN
Nov 30, 2012 9:00am PST
avoiding the fiscal cliff and also his treasury secretary as well going up on the hill talking to members of congress essentially putting forward his plan that would require tax hikes for the wealthiest americans. it is something that republicans are not pleased with. we expect republicans' response very soon. we're iffing to bring that to you live. if you would like to continue listening to the speech, go to cmn.com/live and continue to listen to the president. up next we are also focussing on another story. each year thousands of young british girls lured into a world of sex abuse. we're going to take a look at how predators, they're using gifts, alcohol, social media to gain the trust of their victims. [ woman ] ring. ring. progresso. i just finished a bowl of your new light chicken pot pie soup and it's so rich and creamy... is it really 100 calories? let me put you on webcan... ...lean roasted chicken... and a creamy broth mmm i can still see you. [ male announcer ] progresso. you gotta taste this soup. but i'm still stubbed up. [ male announcer ] truth is, nyquil doesn't unstuff your nose. what? [ male announcer ] alka-seltzer plus liquid gels speeds relief to your worst cold symptoms plus h
FOX News
Nov 30, 2012 8:00am PST
swerve off the road and we do go over the fiscal cliff. there is a big penalty to be paid for it. i think the american people were hoping that both sides would be able to come together. hopefully they will. it's hard to say whether behind the scenes things are better than we think or 0 whether this rile is a titanic battle that is going to be fought out and we're going to go over the cliff. no one knows that for sure yet. jenna: that is the truth. how do you think this sets us up for the year ahead. we have some really big challenges that our don't tree facescountry faces. your thoughts and how big of a role party is in this problem, and in not being able to really get any resolutions, and kick the can down the road. is the party the problem or is it something else? >> i think a lot of it is both parties and problems within both parties. i think a lot of the players that are sitting here already today making these decisions are looking at the 2014 re-election bid, and they are not worried about the other party. their seats are safe for the most part, republican seat versus a democratic challenger. what they
FOX Business
Nov 30, 2012 4:00pm EST
. david: liz? liz: could americans be facing a fiscal food cliff at the supermarket. listen, there are all kinds of tentacles on this story. jeff flock is in woodstock, illinois. ah. >> i am looking at one of the nation's future milk producers although, right now she is interested in getting a little more milk herself. i don't think much luck with that right now. would you like to pay more for milk at the store because of the fiscal cliff, in part, i will explain why that is a possibility. man. she is hungry one. back in a minute. but when i was in an accident... i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. so i never missed a beat. that's health in numbers. unitedhealthcare. maybe you want to incorporate a business. orrotect your family with a will or living trust. and you'd like the help of an attorney. at legalzoom a legal plan attorney is available in most states with every personalized document to answer questions. get started at legalzoom.m today. and now you're protected. get started at legalzoom.m today. i hav
Current
Nov 30, 2012 6:00am PST
speech on the impact the fiscal cliff would have on americans at home. secretary of state clinton is warning not eaching a budget deal would have an impact on global economy global security. she gave a speech at the brookings institute yesterday and said she's hearing concerns from other countries about the choices we're making when it comes to the economy and it's essential that lawmakers in washington make a meaningful deal. we're back after the break. stay with us. i want to have that conversation. let's talk about it. really? you're going to lay people off because now the government is going to help you fund your healthcare. really? i want to have those conversations, not to be confrontational, but to understand what the other side is saying, and i'd like to arm our viewers with the ability to argue with their conservative uncle joe over the dinner table. [ female announcer ] what would you call an ordinary breakfast pastry that's been wrapped in a flaky crust stuffed with a gooey center toasted up all golden brown then given a delicious design? a toaster strudel. pillsbury toast
Current
Nov 29, 2012 9:00pm PST
toward the fiscal cliff remember that president obama has the majority of the american electorate on his side. he has the majority of the u.s. senate on his side too. but the one place he does not have the majority is the house of representatives, of course, where republicans out number democrats. that's the only place republicans have any leverage. so what will the democrats there do to help the president out? minority leader nancy pelosi offered insight to have at meeting with second of treasury quite miles an hour. ry geithner. >> there are tough choices it isn't easy but it's necessary, i have confidence that my republican colleagues will see the light. and at least pass a new tax cut so we have that legal of confidence and we can go from there. >> jennifer: sound like she is saying the republicans might not be tough enough to do the right thing. sound like she's got the president's back. now, to take us inside the house democrat i can caucus we are turn to go a great reliable source house democrat maryland congresswoman donna edwards joins us from washington d.c. she was the
MSNBC
Nov 29, 2012 4:00pm PST
christmas week in order to protect the american public from the fiscal cliff, i'm happy to be here, and so are my colleagues. >> i hope everybody speaks greek because that would be the appropriate language to use the week after christmas. thank you. get it done before christmas. thank you, u.s. congressman lee terry, thank you so much for coming. thank you, congressman connolly. >>> up next, president obama had mitt romney over for lunch at the white house. do you believe it? i'd love to know what happened in that room. it's the latest edition in the often frosty relationship between the presidential rivals. it was pretty warm for about an hour on election night. this is "hardball," the place for politics. [ male announcer ] you are a business pro. monarch of marketing analysis. with the ability to improve roi through seo all by cob. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national
CSPAN
Nov 30, 2012 1:00am EST
american people through the fiasco of going over the fiscal cliff. as i told the president a couple of weeks ago, there are in a glut of things i have wanted a detriment of, but almost all of them had a price tag attached to them. if we're going to talk above the debt limit, there will be depressed as a seated with it. i continue to believe any increase until the debt limit meats are exceeded. >> could after an in. we have just had a meeting with the secretariat of the treasury. it was a very productive meeting. this does not have to be a cliffhanger. it has already passed the senate. democrats are prepared to vote for it. we urge our republican colleagues and the house. let's give a christmas present to the republican people. this confidence that will give them as consumers will give confidence to the markets as well. the president has been clear, and we support him on holding firm to the expiration of tax cuts making 200 to dozen dollars a year. that would be part of a package. we have already voted for cut. revenues are needed and a job creation is needed in reducing the deficit. ev
MSNBC
Nov 30, 2012 7:00am PST
as the latest backdrop to make his case to the american people about the fiscal cliff. yesterday treasury secretary tim geithner presented an offer to the congressional leaders including the stipulation that taxes go up on the wealthy. the headlines tell the story. "the washington post" wrote, "obama offers plan for cliff, not compromise." "the new york times." "gop balks at white house plan on fiscal crisis." and "the wall street journal," obama's cliff offer spurned. i want to bring in joanne reed and molly ball, political reporter for "the atlantic." good to see both of you. good morning. >> good to be here. >> mitch mcconnell, we are told, literally laughed at the white house's offer. and if you listen to speaker boehner, it's not going very well. take a listen. >> i'm disappointed in where we are and disappointed in what's happened over the last couple of weeks. but going over the fiscal cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious as well. >> and the speaker tweeted, "how serious is the white hous
CNN
Nov 30, 2012 2:00am PST
. >>> rejected. the gop snubs the white house's opening offer in fiscal cliff talks. >>> upgraded palestine celebrates a new status despite stiff american opposition. >>> rich and now famous. we know the identity of one of those lucky power ball jackpot winners. >> that's good news. >> can't wait to meet that person. >> good morning. welcome to "early start." i'm christine romans. it's friday. >> happy friday. john berman is hosting "starting point" at 7:00. the middle east is getting ugly. insult and finger pointing in the fiscal cliff debate. tax rates spike and spending slashed. congress is breaking for the holidays in two weeks. it could send the economy spinning in directions. $1.6 trillion in tax hikes. he will travel to pennsylvania to sell it to you. republicans aren't buying it. listen to house speaker, john boehner. >> despite the claims the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. >> democrats are firing right back at boehner. harry reid getting a little personal. >> i don't understand his brain, so you should ask him. okay? >> ouch. athena jones live from washington. same o
MSNBC
Nov 29, 2012 11:00pm PST
done. if we have to be here christmas week in order to protect the american public from the fiscal cliff, i'm happy to be here, and so are my colleagues. >> i hope everybody speaks greek because that would be the appropriate language to use the week after christmas. thank you. get it done before christmas. thank you, u.s. congressman lee terry, thank you so much for coming. >>> up next, president obama had mitt romney over for lunch at the white house. do you believe it? i'd love to know what happened in that room. it's the latest edition in the often frosty relationship between the presidential rivals. it was pretty warm for about an hour on election night. this is "hardball," the place for politics. >>> well, this next story should surprise no one. the 112th congress is on track to be the least productive since the 1940s. with just weeks left, the congress has passed 196 bills into law, many of them ceremonial pieces of legislation like the naming of courthouses. since the 1940s the least productive congress was the 110th in the mid-'90s which passed 333 laws into law. the curren
NBC
Nov 30, 2012 11:00am PST
. optimism is fading fast on capitol hill as lawmakers try to figure out how to avoid the fiscal cliff. no real progress has been made for two weeks. now president obama is talking directly to the american public about tax increases and spending cuts. this afternoon, he walked assembly line outside of philadelphia. it's main product? connecx toys. >> we all agree on making sure middle class taxes don't go up. let's get that done. let's take the fear out for the vast majority of american families so they don't have to worry about $2,000 coming out of their pocket starting next year. >>> all right. now to a story you will see on nbc bay area. >> the san jose skyline could look different if the city can get clearance from the faa. the city leaders say they want taller buildings up to 40 stories high, but since downtown is in the flight path of the airport, there are flight restrictions and that is costing the city money. >> we can do that because we can bring more vibrancy to downtown. more people using restaurants and retail and obviously that attracts more business. >> the faa is doing a study looking the -- at other airports. critics say having taller buildings will ruin the view for the build
MSNBC
Nov 30, 2012 3:00pm PST
is, the president could go over this fiscal cliff and at least politically for him there's not a lot of cost to it. there's some real cost to american families and particularly to the most vulnerable. the president from that position may certainly be trying to pull us back from it. but politically there's no reason not to head over. yes, you'll see your taxes increase on january 1st. but you don't have to write a check on january 2nd. he'll have time, then, to introduce the obama tax cuts and basically dare the republican -- the 113th congress not to vote for him. >> when he puts out his plan, then you hear, chris, i was very intrigued by the statement that charles made on fox, that the obama offer is worse than what was offered to general lee at the end of the civil war. listen to this. >> it's not just a bad deal. this is really an insulting deal. what git near offered on the screen, robert e. lee was offered better deals and he lost the civil war. this is almost unheard of. mine, what do they expect? they obviously expect republicans to cave on everything. i think republicans ought to simply walk away. >> chris, i think with lincoln outdo
MSNBC
Nov 30, 2012 3:00am PST
out loud as the white house averts the fiscal cliff. millions of americans are not finding this partisan fighting so funny. [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. buy now. save later. we create easy-to-use, powerful trading tools for all. look at these streaming charts! they're totally customizable and they let you visualize what might happen next. that's genius! we knew you needed a platform that could really help you elevate your trading. so we built it. chances of making this? it's a lot easier to find out if a trade is potentially profitable. just use our trade & probability calculator and there it is. for all the reasons you trade options - f
FOX Business
Nov 29, 2012 10:00pm EST
the american people wt could happen. if we fall off this fiscal cliff, people are not going to care whose fall it is, they are just going to know we're in a deeper abyss. lou: we have our eyes to follow, we see speaker boehner and mitch mcconnell in washington. the president is not there. that has to be a tough sell? isn't it? >> there is a long way to tiperary . when it comes to these negotiation, predent was willing last year to haveore cuts than tax increases, he is still there. this is going to be a long process, we will get there. if we don't, it is not the end of the world. world. lou: you are going down in history as fellow who called a multitrillion dollar reversal a bunny hill. >> it won't be. lou: i admire your certainty. >> there are two key points we've not discussed. i think that the president wants to go over the fiscal cliff, he wants all of the tax rates to go up, he needs that revenue,nd more important we know he is not going to get blamed. the madial protect him -- media will protect h. the other thing, this president, for a long time has tald about a balanced appr
CBS
Nov 30, 2012 7:00am PST
fiscal cliff. >> republicans call it an insulting joke. >> the biggest stumbling block remains, new taxes on the wealthiest americans. >> that's what the president suggested. >>> ladies and gentlemen, the fiscal -- cliff! >> lottery officials will introduce the holder of one of the two winning jackpot tickets today. >> i'm very happy for him. he has worked very hard in his life and won't have to any more. >> the other big winner in arizona remains a mystery. >> the ticket holder may be all the way across this country in maryland. surveillance video shows a man who purportedly just found out that he wan on. >> now asking that person to come forward, show his ticket and bring your papers. >> lindsay lohan went to jail just to stay dry. >> whipped out his membership card. >> beau obama, inspecting the white house christmas decorations. >>> are you kidding me? >> never has drew brees thrown foiv interceptions and atlanta will survive. >>> an act of kindness by a new york cop going viral. tourist taking this photo of police officer larry deprimo giving boots to a homeless man. >> absolutely humbling experience. >> the police office
FOX News
Nov 30, 2012 3:00am PST
to take americans over the fiscal cliff. >> this is a thelma and louise crowd and want higheraxes and bigger government regardless of the impact on jobs and economy and america's standing in the world. >> gretchen: who could the fiscal cliff jumpers be. matt is editor in chief of the washington weekend. he's my guest. good morning. >> good morning. >> gretchen: who wants to go off of the cliff and die. >> buckle your seat. important senator is patti murray in charge of the democrat campaign committee. she got put in the position thinking it was not a good year for democrats and she turned into one. that gave her clout in the democratic caucus. when she gave a speech saying we could make a more liberal deal if we go off the cliff democrats started listening. >> gretchen: senator harry reid want to go off the cliff. >> he's playing the double game. he want to look like a deal make yer support the president. but so many democrats have a strange idea of compromise. it is all right. give me everything and i will do nothing. what we are seeing from the democrats, republicans you cave on
FOX News
Nov 30, 2012 3:00pm PST
lot of what the fiscal cliff is. move a lot of the damage to the economy on january 1. let's go ahead and pass that. we can debate the upper income taxes and the spending later. it's not implausible, you can make a sophisticated argument why it's a mistake but as a first blush argument the president has the advantage. >> bret: juan? >> i think that you are starting to see much of the posturing and the poxing and the -- positioning and the democrats and president have advantage and trying to take advantage of it. you see it from the polls that come out and most people blame republicans if there is to deal. right now just what you saw from speaker boehner. speaker boehner says the president is asking for $1.6 trillion in terms of added revenue. boehner has come out and said he will do a deal with $800 billion, which is what the president was asking for before. what you have is the outline now, the early outlines of some in between spot where they could in fact find middle ground. then you have the democrats trying to put pressure on the republicans to name their own cuts. where would yo
CNBC
Nov 30, 2012 12:00pm EST
common ground. solving the fiscal cliff in a manner that addresses the true drivers of our debt and saves american jobs will be a great way for the president to start his second term. for the good of our country and my colleagues, we're ready to work with the president to achieve those goals. >> on the issue of tax rates, are you willing to accept no deal that includes some increase in those top tax rates? i'm also wondering, what the final deadline is? when do you really have to have a deal or framework? >> increasing tax rates draws money away from our economy that needs to be invested in our economy to put the american people back to work. it's the wrong approach. we're willing to put revenues on the table, but revenues that come from closing loopholes, getting rid of special interest deductions, and not raising rates. we think it's better for the economy, pure and simple. secondly, listen. the american people expect us to find common ground to work together and to resolve this. frankly, sooner is better than later. [ inaudible question ] >> -- is this the necessary public posturing that needs to go
MSNBC
Nov 30, 2012 6:00am PST
past the financial and to work on the issues americans sent us to do. >> you mentioned the fiscal cliff and i want to ask you about it. president obama even in his p - proposal yesterday had entitlement cuts including to medicare. you have in the past been resistant to cutting entit entitlements. does the result of the election -- i've heard many people on the democratic side say, look, we won. we don't need to make concess n concessions to republicans on entitlements. we can raise the top rates without making these concessions. do you think the president is even in this first proposal giving away too much on the entitlement side? >> i think it's important to note that there's a difference between working to cut medicare and protecting the benefits. and itch said repeatedly that i will not vote to cut the benefits people have earned and depend on because they put those benefits into place, one, this in the middle of a depression, social security, and the other one, medicare, because they were needed. republicans and democrats recognized they needed these programs because people got old
CNBC
Nov 30, 2012 6:00am EST
the portfolio ahead of the fiscal cliff. the smartest minds in the game will tell you how. >> making hot profit. >> another american made story you don't want to miss. the second hour of "squawk box" begins right now. ♪ >> welcome to "squawk box." i'm becky quick along with joe kernan. andrew is out on vacation today. the futures are indicated high they are morning. this is coming despite the idea of -- the two sides of the fiscal cliff not any closer on getting any sort after deal done again, we are looking at some green arrows on this friday morning. let's get to some of the headlines that are out there as we. president obama takes to the road today to pitch his already rejected deal to solve the fiscal cliff. he will be traveling to pennsylvania to push his pitch for tax increases on the wealthy. republicans say the campaign-style tactics are getting in the way of productive talks. more companies are announcing special dividends in anticipation of higher tax rates after the new year. whole foods announced a $2 a share special dividend. also declaring one-time payouts, regal entertainment ends on pharmaceuticals and
NBC
Nov 30, 2012 4:30am PST
safe to say optimism over avoiding that looming fiscal cliff is now shrinking on capitol hill as lawmakers say they have made no real progress in two weeks. now president obama taking his pitch out on the road talking directly to americans about tax increases and about spending cuts. later on this afternoon, he'll walk the assembly line of this manufacturing company just outside of philadelphia. its main product, k'nex toys. the president says the middle class won't support companies like this without avoiding the fiscal cliff. >> demand is going to go away because all of a sudden you'll have $2,000 coming out of people's paychecks. >> john boehner calling the massive increases and spending cuts scheduled for january 1st a real possibility, but many washington insiders say a deal is still doable. >>> 4:45. so how is wall street reacting to all the uncertainty? for more on that, we turn to bertha coombs live at cnbc world headquarters. good morning, bertha. >> reporter: hey, good morning. yeah, you know, wall street basically reacts to those headlin headlines. that's what's moving us these days. we had a fairly choppy session on thursday because of it. the markets rose and fell, as you heard from democrats and republicans. the
CNN
Nov 30, 2012 1:00pm PST
fiscal cliff, that difference between tax rates for the wealthiest americans. and what house democrats announced they're going to try to do is an end run around the house gop to try to file a petition in order to try to push a vote on the house floor to just raise taxes -- excuse me, to just extend the bush-era tax rates for middle class americans. but to do that, as you know, they need 218 votes and there's still a very sizable republican majority in the house. it will be difficult for democrats to do that. >> absolutely. and that proposal to take away what has been historically a congressional prerogative was a little bit surprising even to people who have been reading about this stuff for years. is it true though, dana, as it has been in past years that both sides at least have to show their bases that they're fighting the good fight and that's part of what's going on here? >> reporter: absolutely. there's no question about it. what i mention in the piece really is a real phenomenon here when it comes to the feeling among congressional democrats that they are saying halleluijah. the
MSNBC
Nov 30, 2012 10:00am PST
budget talks to avoid the so-called fiscal cliff. utah congressman jason chafe fits joins me now. the president was campaigning today in campaign mode certainly and basically what the democrats and the white house are saying is this is what the american people voted for. all of the exit polls show that there is strong support, more than 60% of the voters, support tax increases for the wealthy. so how do you counter that? >> well, the president also said he was for a balanced approach and what we haven't seen is what is the other side of that balance? the president said he was going to help curb back the debt and tackle this deficit. instead, the president has the gull to actually go out and suggest that we should get rid of the debt ceiling votes and take away congress' ability to help put a lid on that. essentially wants a limitless credit card. that is a nonstarter for us in the house of representatives and the president should share with us what he thinks he should be cutting. not just 10, 20 years out in advance, what are we going to cut in year one naepts wh. that's what i want to hear from the president. >> i want to talk about what you think needs to be more specific. let's talk about the debt ceiling for a second. the debt ceiling i
MSNBC
Nov 30, 2012 9:00am PST
. solving the fiscal cliff in a manner that addresses the true drivers of our debt and saves american jobs will be a great way for the president to start his second term. and for the good of the country, and my colleagues, we're ready to work with the president to achieve those goals. >> [ inaudible ]. >> that was speaker john boehner on capitol hill offering his rebuttal to the president's speech? pennsylvania. michael crowley, i'm sensing that there is a -- the drawing of a line in the sand about the president's squandering some amount of goodwill that the republicans are now trying to sort of further as a mean out there almost as their answer to his presumption of reasonableness or the great reasonableness tour of 2012. >> yeah. you know, boehner saying this is not a game but that's part of saying it's not a game is part of the game. i'm not sure that there's was any genuine goodwill republicans felt to the president as a result of his election. i don't think they had a genuine sense they owed himming that and that's how politics works. fight tooth and nail to your greatest advantage an
CBS
Nov 29, 2012 5:30pm PST
make 3% less on that opportunity. >> reporter: in the fiscal cliff negotiations, republicans still argue that higher taxes will hurt small business jobs. but, scott, democrats up here argue that this debate is over. that raising taxes on the wealthiest americans of all kinds was decisively approved by the voters in the election. >> pelley: wyatt, thank you. yarmer president george h.w. bush is in a houston hospital tonight being treated for bronchitis. the hospital told us it's not life threatening. mr. bush is 88 and was last seen at the white house in may for the unveiling of his son's onrtrait. millions were disappointed, but dere were some winners in that big powerball drawing. that story is next. copd makes it hard to breathe, but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not be used more than twice a day. people with copd taking advair may have a higher chance of pneumonia. advair may increase your risk of oste
ABC
Nov 29, 2012 6:00pm PST
-called fiscal cliff is reached, in washington, d.c. treasury-secretary timothy geithner is trying to get both sides to agree. republicans complain that democrats are basking in their win. >> the country doesn't need a victory lap, it needs leadership. it's time for the president and congressional democrats to tell the american people what spending cuts they are willing to make. >> nancy pelosi seen here with mexico's president-elect called out on the speaker. >> they passed a bill to extend middle income tax cuts. democrats stand ready to support it. president stands ready to sign it. why? why are you holding this up. >> president obama told boehner there is no deal unless to keep the tax rates go up for those earning more $250,000. >> 138 nations voted to granted the palestinian authority status as a non-member observer state. israel and united states voted against the controversial measure which could make it easier for the palestinian authority to pursue israel in international courts. palestinian president mahmoud abbas called it a last chance for a peaceful two state settleme
FOX Business
Nov 30, 2012 9:20am EST
like what the president has proposed, or if you go over the fiscal cliff full tilt, either way, you will have a recession and president obama's second term starts on a very negative note for the american economy. >> you put your finger on the problem. the point of having these fiscal cliff negotiations is to avoid what could lead to a recession, to avoid a calamity. the proposal your putting forward leaves you with an even worse position than you are now, what is the purpose of this? stuart: stay there for a second. i want to get the company's opinion on the raising of the debt ceiling. it is and abolition of the debt ceiling so the president and borrow whatever he wants without congressional authority. >> extraordinary power grab like we haven't seen in a long time. washington d.c. has been in bubble bland. we are in a government bubble. washington d.c. is disconnected from the reality of real-estate going up but the issue is washington d.c. things we are on the dot dog, or housing bubble from the bubbles stretching back to the 90s. we are no longer there. stuart: i am frightened by no debt ceiling and a person has the authority, will borrow this, just do it. liz: imperial presidency. gerri:
CBS
Nov 30, 2012 5:00am PST
"fiscal cliff" to members of congress. the $4trillion plan includes $1.6 trillion in new taxes on upper income americans. $400billion in cuts to medicare and other entitlement programs. $50billion in stimulus spending and the end of congressional control over the debt ceiling. both sides remain at a standoff over the issue of raising taxes on higher income earners. but the president said he will not sign any bill that does not include higher taxes for top earners. the white house is calling this proposal an opening bid but house speaker john boehner says no real progress is being made to reach a deal. could be an interesting day for us on wall street. >> i guess. they have a month to figure that out. in the meantime though there's a secret santa. i guess santa decide to do a little early work in the tri- state area, right? >> reporter: that's right. a so-called secret santa is giving away $100,000 in $100 bills to victims of superstorm sandy. a missouri man declined to reveal his name but he is carefully selecting his stops in new jersey and new york to avoid the mob scenes. he says it's not about the money but abou
FOX News
Nov 29, 2012 4:00pm PST
at home and republic leaders say we are now in more danger of falling off the fiscal cliff on new year's day. that would mean automatic spending cuts and the expiration of tax cuts for most americans. president obama sent his top negotiator to the treasury secretary. tim geithner to capitol hill today. he met with leaders of both parties. republicans say they made no progress. and surprise, each party blames the other. >> the democrats have yet to get serious about real spending cuts. and, secondly, no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> republicans know where we stand. we have said it, we have said it, we have said it so many times the president said the same thing. it's been weeks, at least two weeks since we met at the white house and are still waiting for a serious offer from the republics. >> shepard: after his meeting with secretary geithner the senate minority leader mitch mcconnell said of administration officials quote today they took a step backward moving away from consensus and closer to that cliff. ed henry is live at the white house for us tonight. ed we are getting new information about what tim geit
ABC
Nov 30, 2012 1:40am PST
talk. the two sides dig in without much progress to report in heading off that looming fiscal cliff. >> today the president hits the road to make his case for higher taxes on high-income americans. it's friday, november 30th. >> announcer: from abc news, this is "world news now." >>> good friday morning, everybody. i'm rob nelson. and look which one of our buddies is back for the day. >> you know i love sitting here with you. >> we have a good time always. too much fun actually for friday at 2:00 in the morning. >> friday should always feel good. let's make it fun, why not? >> true. glad to be here. i am sunny hostin. paula faris is on assignment. >>> in a moment we'll see where talks stand in that effort to head off the financial doomsday scenario that everyone is talking about. >>> also ahead, the mystery man captured on a security camera at a maryland store. he appears to be holding a winner powerball ticket. at least that's how he's acting. >> yeah. people don't shake it like that because you've got your twinkie, you know. you're shaking like fwhaus you came into serious cash. so we'll see if that is indeed one of the winners. >>> also in this half hour, a major player that makes
MSNBC
Nov 30, 2012 1:00pm PST
reason the fact of the lex and the fact of the fiscal cliff don't seem to penetrate the republican mind in congress, and that is going to be unfortunate for republicans because most of americans, the polls show, will blame the republicans if, in fact, their tacks go up january 1st. that's the big issue. who is going to get blamed? i have been at this game for many years. i remember when newt gingrich played the game of chicken with bill clinton and the question was who is going to get blamed? well, it was the republicans, and it was newt gingrich. and it look as though it's going to happen once again. republicans in the house especially are going to be blamed, and that means bad news for republicans not only over the next couple years but also in -- well, really over the next several elections. we don't even have to limit it to the next election. >> dr. peterson, mr. boehner also said something very curious today. he said, and i'm quoting him, he took a great risk in his speech the day after the election when he said he was open to more revenue. he was putting revenues on the table, but the only thing he said was exactly what mitt romney had been saying for the last years, closing
CNN
Nov 30, 2012 4:00am PST
democrats' position on all this. >> ready to protect middle-class families from the fiscal cliff that they're facing by freezing the tax rates for the first $250,000 of all americans' income and letting the rates go up to the same level they were during the clinton administration. republicans know where we stand. we've said it. we've said it. we've said it so many times, the president's said the same thing. >> and senator reid is correct, the president has been talking about this idea of raising taxes for the wealthiest among us all during the campaign and even longer. now republicans say that you know there's been way too much focus on this whole tax issue or on the tax side of things. there needs to be a lot more emphasis on spending cuts. let's listen to what house speaker john boehner had to say about that. >> right now, all eyes are on the white house. the country doesn't need a victory lap. it needs leadership. it's time for the president, congressional democrats, to tell the american people what spending cuts they're really willing to make. >> now, republicans believe that the cuts on the table, $400 million, and so far cuts to entitlement programs like medicare, t
FOX Business
Nov 30, 2012 1:00pm EST
be serious. they cannot be serious about pushing us off the fiscal cliff because it will have bad responses to republicans. the obama people will be able to say you gave away the ability to keep taxes down on 98% of americans. and for the president, the idea that he would allow the taxes to go up, again, on appetizing for him given that he said he would protect the american middle class. lori: he said the same thing over and over again. how do you see this sorting itself out? >> from purely a political viewpoint, i did not see why anyone would not make a deal. the fear i have is they just kick the can down the road thing and they create a three-month bridge. not the heart and soul of it which will be, as you said, some kind of tax hikes. then, you move on, in terms of the entitlement cuts. i do not think we will get the social security. when it comes to spending and social security on the like -- that is what will happen. i do not see why people don't just make the deal. lori: how much further down the road can it go? juan williams, so nice to see you. have a nice weekend. >> thank you, lori. melissa: charlie gasparino has the latest details. he was pulling his hair during the last bit. charlie: i like juan wil
Current
Nov 30, 2012 3:00am PST
over the fiscal cliff? but the g.o.p. is not so keen on a deal, at least the one the white house presented yesterday. the first offer from president obama and treasury secretary timothy geithner included a $1.6 trillion tax increase along with an extension of the payroll answer it cut and unemployment insurance and a request for $50,000,000,000 worth of stimulus spending next year. now, it doesn't promise $400,000,000,000 worth of spending cuts but congressional republicans call the deal unbalanced and unreasonable and saying there is not enough spending cuts and reforms. the one good piece of -- piece of good news to the white house on this is it shows president obama is opening strong not conceding. we will be right back. arguments to feel confident in their positions. i want them to have the data and i want them to have the passion. but it's also about telling them, you're put on this planet for something more. i want this show to have an impact beyond just informing. an impact that gets people to take action themselves. as a human being, that's really important. this is not j
CNN
Nov 29, 2012 11:00pm PST
blamed no matter what they do. that's political environment. they might as well embrace the fiscal cliff. >> you heard peter difazio saying earlier in the program, democrat, go off the cliff, there is no cliff. no problem. >> folks on both sides. look, there's not a clip there and they're going to play chicken and go off. >> and then you're road kill at the bottom. >> that's exactly right. most folks are saying since the economy's improving, congress, don't screw it up and you get some folks on the far left and far right, there's no cliff, don't worry about this. we're after the election, this isn't an id logical debating society. this is about getting something done. let's work on a short-term deal. >> the deal that's there, we're in this situation because congress came up with what they're calling the fiscal cliff now and they're calling it the fiscal cliff because they don't want to e embrace either the tax increases or spending cuts and i think it's foolish to think this congress can come up with a better deal. >> you know what's interesting, to eric's point, there is a great irony i
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